The Board has decided to discontinue exploration and production at Bogdanovskaya area.

The Board of Directors has decided not to extend the license on Bogdanovskaya area in Orenburg region. The license, dated July 26 2000, was issued to Orneftegazs in order to evaluate if there are prospective deposits of oil and gas. After consideration it has been concluded that Orneftegaz should not apply for an extension to the license. The reason for this is that the area has limited potential and significant investment would be required to meet the license obligations. The area has not been in production since 2009 and is not included in the company’s work plans.

The Company will give priority and allocate investment to its other licensed areas in Orenburg and Uchta with greater potential.

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, head quartered in Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian oil company OOO Geotechnologia which holds two licenses in the Timan-Pechora province in Northwest Russia, as well as 6 licenses through our companies ZAO Orneftegaz and OOO Veselovskoye in the Orenburg area.